Galiano Gold (NYSEAMERICAN:GAU) Stock Rating Upgraded by Zacks Research

Galiano Gold (NYSEAMERICAN:GAU) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on GAU. Freedom Capital raised shares of Galiano Gold from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Canaccord Genuity Group raised shares of Galiano Gold to a “strong-buy” rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $4.25.

Galiano Gold Price Performance

Shares of NYSEAMERICAN:GAU opened at $2.41 on Wednesday. The firm has a market capitalization of $630.00 million, a PE ratio of 9.27 and a beta of 0.86. Galiano Gold has a 12 month low of $1.66 and a 12 month high of $3.62. The business has a 50-day moving average of $1.97 and a two-hundred day moving average of $2.35.

Galiano Gold (NYSEAMERICAN:GAU) last issued its earnings results on Thursday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $183.75 million for the quarter, compared to analysts’ expectations of $151.85 million. Galiano Gold had a return on equity of 35.34% and a net margin of 12.19%. As a group, research analysts anticipate that Galiano Gold will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Galiano Gold

Large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its holdings in shares of Galiano Gold by 13.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 882,962 shares of the company’s stock valued at $1,095,000 after buying an additional 106,685 shares during the period. JPMorgan Chase & Co. purchased a new position in Galiano Gold in the 2nd quarter worth approximately $196,000. American Century Companies Inc. boosted its holdings in Galiano Gold by 25.9% in the 2nd quarter. American Century Companies Inc. now owns 46,431 shares of the company’s stock worth $59,000 after acquiring an additional 9,558 shares during the period. XTX Topco Ltd acquired a new stake in Galiano Gold in the second quarter valued at approximately $74,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Galiano Gold in the second quarter valued at approximately $185,000. Institutional investors and hedge funds own 66.82% of the company’s stock.

Galiano Gold Company Profile

Galiano Gold Incorporated is a Canada-based gold exploration and development company listed on the NYSE American under the symbol GAU. The company’s primary focus is the acquisition, exploration and advancement of gold deposits in the Americas. Galiano Gold pursues a value-driven strategy to build gold resources by identifying high-potential projects, conducting systematic drilling programs and advancing resource definition toward a development decision.

Galiano Gold’s flagship asset is the Oko West and Oko East gold project located in the Essequibo region of Guyana, where multiple oxide and primary gold mineralized zones have been outlined through extensive drilling.